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Oil: Brent jumps nearly 4%

08/03/2021
Source : ORISHAS FINANCE
Categories: Sectors

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Oil prices end at their highest in almost 2 years. Brent jumped nearly 4% to $69.36 and WTI returned to $66 with a 3.5% surge.

Oil prices hit new closing highs in nearly two years on Friday, buoyed by a smaller-than-expected increase in supply from major oil exporters from April. The two benchmark contracts have gained almost 35% since January 1.
A barrel of Brent North Sea oil for May delivery gained 3.9% in London to $69.36, a close high since April 2019. A barrel of US WTI for April climbed 3, 5% to 66.09 dollars, a level of end of session more reached in 22 months. Brent and WTI had already climbed nearly 5% by Thursday's close.

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